Zentiva Group Acquires Ankleshwar-based Unit of Sanofi India
Business partnerships and acquisitions are commonplace during the lockdown. Small companies are raising money by selling off assets or taking debt funds while profiteering corporations are using this opportunity to expand their business as well as improve infrastructure.
In a similar vein, pharma company, Zentiva Group has completely acquired Ankleshwar-based manufacturing site , which was held by Sanofi India. With this deal, total number of wholly-owned production sites by Zentiva has increased across the globe. Further, the company is able to produce more output, thus, satisfying the needs of the people, who require high quality and reasonably-priced medicines, reported Press Trust of India.
"We are delighted to welcome the Ankleshwar team into our Zentiva family. We are continuing to deliver strong growth at Zentiva and the completion of this acquisition is an important milestone for our company," Nick Haggar, Chief Executive Officer of Zentiva, said in an interview with the cited media agency.
The deal continues the growth strategy that Zentiva follows post-acquiring Creo Pharma in the UK, Solacium in Romania and the Central and Eastern European operations of Alvogen completed in April 2020. The present acquisition runs along with the ongoing investments of flagship sites of Zentiva in Bucharest and Prague.
"The strength of our growing manufacturing network and additional capacity means we can keep pace with the accelerating demand for our medicines and increase our direct control over our supply chain to help ensure continuous supply and rapid response to patient needs," Haggar added.
How the Latest Acquisition Will Help Zentiva
As per the deal, the acquired manufacturing site will be supported by a brand new, Zentiva India affiliate office in Mumbai. The manufacturing site will help bolster output of Zentiva and in turn, create premium and fair-priced drugs.
"I am so proud that our Ankleshwar team will be part of an even stronger Zentiva, integrated into the organization's long-term growth strategy," Ashwani Sood, Head of the Ankleshwar site, said.
"We know demand for high quality and affordable medicines is increasing and we look forward to contributing to Zentiva's success on this journey," Sood told.
The Ankleshwar manufacturing site, which was founded in 1987, is essentially a chemistry and biotechnology development center. It produces both intermediates and pharmaceutical formulations. Being a large producer of tablets, the site produces over 6 billion tablets annually.
Zentiva, which is a pharmaceutical company, offers medicines in Europe and beyond. The company has a headcount of over 4,700 employees and has a nexus of production sites--Prague, Bucharest and Ankleshwar, to name a few. It aims to be a leading brand by fulfilling people’s healthcare needs in Europe.
The company focuses on rendering premium, cost-effective medicines to people. As a result, it has partnered with physicians, pharmacists, wholesalers, regulators and governments to provide the everyday solutions to the general masses.
Other Deals Happening in Business Ecosystem
The Indian power transmission infrastructure investment trust, India Grid Trust (IndiGrid) has wholly acquired a Haryana-based asset. The fund proclaimed that it has bought a 100 per cent stake in a Haryana-based asset owned by Kalpataru Power Transmission Ltd and Techno Electric and Engineering Co. Ltd for INR 310 crore, reported VC Circle.
"It has completed the acquisition of Jhajjar KT Transco Pvt. Ltd, an operational intra-state asset that consists of three 400 kilovolt (kV) transmission lines across 103 km in Haryana," The KKR and GIC-backed trust said in its official statement.
Reportedly, Essar Group company, AGC networks is acquiring Dubai-based Fujisoft group of companies. The acquisition is made to expand and increase the company's presence, as well as offerings, in West Asia and Africa.
According to the cited media company, AGC Networks has inked an agreement with Abizer Leelwalla Sajjad Hussain and Albert Raj Naricitti Peter to acquire all stakes of Fujisoft Technology LLC, along with its associated companies in the United Arab Emirates (UAE), for 9.8 million dirham ($2.6 million at the current exchange rate).
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